Kaynes Technology India Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | Industrial Manufacturing | Market Cap: ₹26.1K Cr
The company targets to grow at twice the market growth rate, which was 17% in the first quarter, with Kaynes achieving over 45% growth in the EMS business. Kaynes aims to achieve revenue growth at twice the market growth rate, targeting aggressive expansion especially in EMS business.
From Kaynes Technology India Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Price
₹3,934
Market Cap
₹26.1K Cr
P/E Ratio
75.3
Revenue Rank
Margin Rank
How does Kaynes Technology India Ltd rank in Industrial Manufacturing?
Compare Kaynes Technology India Ltd against every Industrial Manufacturing company this quarter on revenue, margins and earnings-call signals.
Kaynes Technology India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹91 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 1- →The company targets to grow at twice the market growth rate, which was 17% in the first quarter, with Kaynes achieving over 45% growth in the EMS business.
- →Full-year revenue growth guidance is cautious due to market volatility and commodity availability; no absolute numbers committed.
- →OSAT and PCB businesses are expected to start contributing revenue from Q3 FY27, with a combined full-year revenue target of INR 500 crores.
- →Despite challenges, such as supply chain issues and working capital constraints in metering, management remains confident of a positive growth trajectory.
- →The order book is strong at over INR 8,900 crores, indicating robust demand and a positive outlook for scaling operations.
- →Strategic focus on operational excellence and capital discipline aims for sustainable and faster growth than peers.
📈 Profitability & Margins
Rank 4- →Kaynes aims to achieve revenue growth at twice the market growth rate, targeting aggressive expansion especially in EMS business.
- →First quarter saw 40% overall growth, with EMS business growing around 48%, though smart metering business degrew due to working capital constraints.
- →Full-year revenue growth guidance is cautious due to material availability and market volatility; no absolute top-line number provided.
- →Operating margins face near-term pressure from commodity price inflation, supply shortages, and forex impacts, expected to take a couple of quarters to normalize.
- →Strategic inventory buildup is expected to support stable revenues and growth going forward.
- →Management is focused on operational excellence, disciplined capital allocation, and improving balance sheet health to sustain earnings growth.
- →Capex of around INR 850 crores planned over FY27-FY28 to support OSAT, PCB, and EMS business expansions.
- →The metering segment is being rebalanced for better cash flow and returns; divestment discussions are ongoing but no concrete decisions yet.
🏗️ Capital Expenditure Plans
Yes- →For FY27, Kaynes Technology plans capital expenditure of approximately INR 850 crores split as:
- → - INR 300 crores for OSAT (Outsourced Semiconductor Assembly and Test)
- → - INR 300 crores for PCB (Printed Circuit Boards)
- → - INR 250 crores for EMS (Electronics Manufacturing Services)
- →First quarter capex already spent is around INR 230 crores.
- →Additional modular capacity expansions will continue based on new business inflows.
- →Funding is not an issue; capex will be supported by internal accruals and available subsidies.
- →Total investments till now in OSAT and PCB combined around INR 1,200 crores (INR 700 crores in OSAT, INR 500 crores in PCB).
- →Around INR 250 crores of capital goods are in transit.
- →Commitment to commercial revenue booking from OSAT and PCB is expected to start in Q3 and Q4 of the current financial year.
- →The projects are currently on track with validations and trials underway.
💰 Fundraising & Capital Structure
Yes- →The company currently has total debt of around INR 800 crores, with a debt-to-equity ratio of about 0.3.
- →For long-term capital investments in Semiconductor and Circuit businesses, approved loans exist but have not yet been drawn; internal funding is being used currently.
- →Capex guidance for FY27 is INR 300 crores for OSAT, INR 300 crores for PCB, and INR 250 crores for EMS, with first quarter capex at around INR 230 crores.
- →Management stated "fund is not a problem," indicating they are comfortable funding capex through internal resources without immediate plans for additional fundraising.
- →No specific near-term plans for new equity or debt fundraising have been disclosed in the call.
📋 Order Book & Pipeline
Yes- →Kaynes Technology India Limited currently has a strong order book of more than INR 8,900 crores.
- →In Q1, the team added more orders than what was delivered or opened, indicating growth in the order pipeline.
- →Despite global commodity availability challenges and price escalations, customer demand remains strong both domestically and internationally.
- →The company expects demand to continue growing positively without significant cutbacks from public sector or government enterprises.
- →Projected commercial revenue booking for OSAT and PCB is expected to begin from Q3 and Q4 FY27, with full-year revenue guidance of INR 500 crores between both segments.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
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What Kaynes Technology India Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Kaynes Technology India Ltd Q1 FY27 results?
The company targets to grow at twice the market growth rate, which was 17% in the first quarter, with Kaynes achieving over 45% growth in the EMS business. Kaynes aims to achieve revenue growth at twice the market growth rate, targeting aggressive expansion especially in EMS business.
What is Kaynes Technology India Ltd share price analysis?
Kaynes Technology India Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 75.3 with a market cap of ₹26,150 Cr. Investors should review the full earnings analysis for detailed insights.
Is Kaynes Technology India Ltd planning capital expenditure?
For FY27, Kaynes Technology plans capital expenditure of approximately INR 850 crores split as: - INR 300 crores for OSAT (Outsourced Semiconductor Assembly and Test) - INR 300 crores for PCB (Printed Circuit Boards) - INR 250 crores for EMS (Electronics Manufacturing Services) - First quarter capex already spent is around INR 230 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.